Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by RWA Wealth Partners LLC

RWA Wealth Partners LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 19.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,808 shares of the semiconductor company’s stock after purchasing an additional 2,421 shares during the period. RWA Wealth Partners LLC’s holdings in Analog Devices were worth $3,146,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. United Bank raised its holdings in shares of Analog Devices by 4.7% during the third quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after acquiring an additional 273 shares during the period. Fisher Asset Management LLC raised its stake in Analog Devices by 20.2% during the 3rd quarter. Fisher Asset Management LLC now owns 2,831 shares of the semiconductor company’s stock valued at $652,000 after purchasing an additional 476 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Analog Devices by 0.8% in the third quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock valued at $1,568,000 after purchasing an additional 57 shares in the last quarter. Glenmede Trust Co. NA boosted its position in shares of Analog Devices by 2.8% in the third quarter. Glenmede Trust Co. NA now owns 21,315 shares of the semiconductor company’s stock worth $4,906,000 after buying an additional 587 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in shares of Analog Devices by 13.7% during the third quarter. Public Sector Pension Investment Board now owns 21,612 shares of the semiconductor company’s stock valued at $4,974,000 after buying an additional 2,600 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial raised their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group began coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Oppenheimer reissued an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Morgan Stanley upped their price target on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,684 shares of company stock valued at $7,746,500 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 3.5 %

Shares of ADI stock opened at $201.56 on Monday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a market cap of $99.97 billion, a PE ratio of 64.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The stock has a 50 day moving average of $216.51 and a 200-day moving average of $219.49.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company earned $1.73 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.96%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.